ONTARIO, CA-NAIOP Inland Empire's 2013 Mid-Year Market Reviewheld in Ontario, Calif. offered an in-depth look at the macro andmicroeconomic indicators defining industrial real estate activitiesin the region and across the US. The consensus—the Inland Empire isleading the country in industrial development andis the first submarket recovering from the economic downtown.
Keynote speaker Gene F. Reilly,Prologis CEO of the Americas, highlighted theregion's dominance as a distribution hub forretailers and manufacturers. He also addressed the important rolethe area is playing to revive the industrial market.
“We remain bullish about the Inland Empire as one of the earliestsubmarkets in the US to recover from the economic downtown threeyears ago,” said Reilly, whose company recently completed an800,000-square-foot distribution center in Redlands.
Following the keynote, a panel of local experts that included CBREvice chairman Darla Longo, Lee &Associates EVP Bill Heim, JonesLang LaSalle executive vice president MichaelMcCrary, and CBRE SVP Phil Woodford,highlighted the region's strong position as the gateway to thecountry's goods movement.
“Companies have to be in the Inland Empire. We are the gatewaylocation to Asia and with the intermodal yard in San Bernardino weare also the gateway for westbound product,” said McCrary.
Approximately 43% of all imported cargo enters the US through theports of Los Angeles and Long Beach, and 75% of those goods arehandled in the Inland Empire before being shipped to their finaldestinations. Each year the BNSF Intermodal Container Facility inSan Bernardino, one of the most modern hubs in the industry,handles a half-million transfers of international and domesticcargo from China and the Pacific Rim.
Becoming a key player in the country's goods movement, the InlandEmpire is now home to roughly 400 million square feet of warehouseand distribution property. Another 16 million square feet ofspeculative warehouse property is currently beingbuilt.
Compared to other industrial hotspots, according to panelists,there is more industrial construction activity taking place in theinland region than anywhere else, and three times as manyindustrial projects planned for the market.

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Natalie Dolce

Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.